Bitcoin bounced back to $122K after dropping on failed crypto bills in Congress

Wall Street experienced volatility with stocks initially dropping due to rumors of the Federal Reserve chair potentially being fired, although they mostly recovered by the end of the day. The technology sector was negatively impacted by declines in semiconductor stocks, with ASML experiencing a significant drop despite positive earnings results, because their prospective 2026 guidance was uncertain. While bank earnings were generally positive, bank stocks still traded lower. Bitcoin sharply declined to $115,000 after the House rejected crypto bills but quickly rebounded to $122,000. Ether demonstrated strength, breaking out of a pattern with a target price of $4,375, and outperformed Bitcoin, with a 130% increase since April compared to Bitcoin's 60% gain.